Hi Westcott had to jog my memory there but heres an article relating to the problems RIO are having.
I know you will want to reply and have the last say as thats you personality.
I was not here to say you are right or wrong just expressing my decisions and my way of thinking.
CIAO
Rio Tinto still committed to SimandouJuly 23, 2009 Ads by Google Want to buy RIO Tinto ? Buy / sell RIO using a licencedbroker. Trade today using Halifax
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Rio Tinto Ltd says it remains committed to the development of a massive iron ore project in the African nation of Guinea, after an angry letter from the nation's mines minister to the company was made public.
The letter addressed to Rio Tinto chief executive Tom Albanese and chairman Jan du Plessis on June 26 accused Rio Tinto of ignoring government decisions, The Times newspaper in the UK has reported.
In the letter, Guinea's Mines and Energy Minister Mahmoud Thiam accused Rio of a subversive campaign against the government.
He said such activities come dangerously close to destabilising civil peace and weakening his country's socio-economic balance.
"We hold - I say it again - palpable proofs of these acts and we are currently examining the different means at our disposal to sanction them, Mr Thiam said.
One of Rio Tinto's largest development projects involves a potentially massive iron ore mine at Simandou, in Guinea.
"From our point we are committed to the successful development of the Simandou concession," a Rio Tinto iron ore spokesman said on Friday.
"We remain confident of our rights, including legal rights, to the full concession.
"We continue to work closely with the Guinean government to achieve greater clarity on these issues."
Rio Tinto is the world's second-largest iron ore miner and has so far spent $US400 million ($A490.53 million) on the project, which employs more than 900 local workers at the site.
The company has previously said Simandou is similar to Western Australia's iron ore-rich Pilbara region in the 1960s.
The stoush between Rio Tinto and the Guinean government comes amid tense relations between the miner and the Chinese government, after four employees were arrested earlier this month accused of spying.
There have been claims the Guinean government withdrew Rio's rights to half of its Simandou concession because of frustration at the time the mining company had taken to develop the site.
But the Rio Tinto spokesman said the company believed it was bringing the project to fruition quickly and had done a large amount of drilling already.
"Clearly we need greater clarity of the security of tenure and are taking steps to achieve that. But we need that before launching any actual project beyond its current status," he said.
At 1529 AEST, shares in Rio Tinto were trading up $1.41, to $57.22.
NSL Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
(20min delay)